Property Market News
Omicron threatens to blow London’s property market recovery ‘off course’
Demand for London property has clearly perked up, says Knight Frank, but the trend is "dwarfed by what took place in 2020 as the escape to the country trend took hold."
Market Snapshot: New York’s ‘phenomenal recovery’
Knight Frank predicts that Manhattan property values will increase by 5% in 2022 - the highest rate of inflation in seven years.
Rightmove predicts 5% growth for UK house prices in 2022; 3% in London
The housing market is likely to move at a "less frantic pace" in 2022 compared to the last 18 months, says Britain's biggest property portal.
Mortgage lending dropped sharply as the Stamp Duty holiday ended
"Parts of the market are beginning to normalise after a remarkable burst of activity," comments Savills' research chief, Lucian Cook.
UK house prices to rise 20% in the next five years, predicts JLL
Property price inflation "will be driven by mortgaged households who have seen high wage growth, housing equity growth over the past decade and can now also access historically low mortgage rates," says…
Remote working boosts English demand for Scottish property
22% of Scottish property sales so far this year have gone to UK buyers based outside of Scotland, according to Knight Frank.
‘Behemoths like New York & London look to be awakening from their slumber’, but prime global city price growth to ease in 2022
Knight Frank's team flags five key drivers of global property price growth in 2022, and six international trends to watch.
Official data confirm sharp drop in transactions after SDLT holiday
85,000 homes changed hands in October, according to HMRC's data - 52% fewer than in September, during the last of the stamp duty holiday rush.
Rents to rise c.20% in the next five years, predicts Savills
Build-to-rent investors are primed to fill a widening supply gap in the lettings market, says Savills, as it predicts strong growth for most prime and mainstream rental markets.
‘Fewer bargains for property hunters’ warns London estate agency
"At this point of year, we expect buyer enquiries to tail off but we have been seeing the opposite," says Chestertons.
National average house price increased by 11.8% in the year to September – UK HPI
London's average property price dropped by a sharp 2.9% in September, according to the latest official statistics, taking annual growth in the capital down to +2.8% (from +6.7% in August)
‘Far less frenzied’: Buying agency reports a ‘wind of change in the air’ for the property market
The property market is "far less frenzied" than it has been over the last year, says national buying agency Garrington, although prices continue to rise and buying activity continues to be "robust".